J.H. Whitney has refinanced Autosplice
Lincoln International (“Lincoln”), a leading global mid-market investment bank, announced today the successful completion of a financing for Autosplice, Inc. (“Autosplice” or the “Company”), a portfolio company of J.H. Whitney. Autosplice is a leading global manufacturer of highly engineered, mission-critical electrical interconnectors and electromechanical assemblies primarily used in the automotive, consumer, industrial, medical and telecommunications end markets.
Lincoln acted as exclusive financial advisor to Autosplice and J.H. Whitney, and worked closely with the Company and J.H. Whitney on all aspects of the financing, helping to structure, arrange and negotiate new credit facilities, which consist of senior revolving credit facilities provided by Wells Fargo Bank, N.A. and a first lien term loan provided by Medley, LLC. Proceeds from the transaction were used to refinance existing indebtedness and to support Autosplice’s strategic growth plan, as well as the Company’s ongoing working capital and capital expenditure requirements.
Santosh Rao, Chief Executive Officer at Autosplice, commented, “Lincoln ran a robust yet efficient financing process that explored multiple structural alternatives to meet Autosplice’s unique capital needs. Lincoln also did an exemplary job educating prospective investors on a highly technical industry and driving the process to a favorable outcome with new lending partners. The transactions resulted in improved financial flexibility and liquidity which will underpin our global growth and expansion.”
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